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Indonesia government create forum coordination for market deepening


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JAKARTA (TheInsiderStories) – Indonesia Finance Ministry joined with Financial Services Agency (OJK) and Bank Indonesia (BI) set up Forum Coordinating of Financing Development through Financial Markets (FK-PPK).

According to BI’s governor Agus Martowardojo, through the forum coordination, the three parties could create market deepening and adding more liquidity to the financial market.

Recently, He said, the transaction volume in money market around $5 billion a day–mostly in spot transaction–while in Thailand has reached $11 billion and Malaysia $15 billion. He continued, 72 percent financing for infrastructure projects comes from banking sectors.

Finance Minister Bambang Brodjonegoro, said PT Sarana Multi Infrastruktur (SMI), an infrastructure financing company own by government, will facilitate the funding from pension funds, insurances and social security organizing body for employment. Government targeting to finance infrastructure projects on 2016’s State Budget Rp313 trillion (US$23.72 billion).

According to him, the agency could raise funds around Rp40 trillion from the local financial institution firms.

Beside collecting funds from local financial institution, Chairman of OJK Muliaman Hadad adding, to attract more liquidity to the market, the agency pushed the asset management company to publish the Limited investment mutual funds with underlying infrastructure projects.

“We encourage investment managers to use infrastructure projects as underlying asset for limited mutual funds as an instrument for raising funds on the infrastructure projects,” He stated.

Previously, Chief Executive OJK for the Capital Market Supervisory Nurhaida, said one infrasctrutcture projects could use as underlying fro the limited mutual funds are the 35,000 megawatts electricity generation projects.

According Nurhaida, new energy power projects, renewable and energy conservation need huge funding. Based on estimates of the Ministry of Energy and Resources minerals, amounting up to Rp1.700 trillion.

Indonesia needs investment with worth Rp 5,519 trillion until 2019 to develop infrastructure projects by government and private company.

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Source: The Insiderstories
Indonesia government create forum coordination for market deepening

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